CBN Introduces Special Intervention Of FOREX Cash Sales To BDC Operators

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This is to inform Bureau De Change (BDC) Operators and the general public that with the approach of the yuletide season and the resultant increase in the demand for Personal/Business Travel Allowance, the CBN has in addition to the existing market days (Monday, Wednesday and Friday) introduced a special intervention day every Thursday for USD15,000.00 per BDC commencing on Thursday, December 06, 2018.

Consequently, all BDCs should note that the cut-off time for receiving Naira deposits into their respective bank accounts for the Thursday’s special

intervention shall be 10:00am on the Thursday.

All operators are hereby advised to ensure strict compliance with the provisions of the extant regulations on the disbursement of forex cash to their respective

customers as any case of infraction will be appropriately sanctioned.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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